Wednesday, July 6, 2022

Baghdad

Central Bank of Iraq increases its capital

 Central Bank of Iraq increases its capital

The Central Bank of Iraq. Alborsaa news image.

Baghdad (IraqiNews.com) – The Central Bank of Iraq (CBI) announced an increase in its capital on Thursday to reach 5 trillion Iraqi Dinars (3.42 billion USD), according to the Iraqi News Agency (INA).  

“The board of directors of the CBI decided to increase the bank’s capital from 3 trillion Iraqi Dinars to 5 trillion Iraqi Dinars,” according to a press statement issued by CBI and cited by INA.

The statement added that this increase comes to enhance the results of the bank’s balanced policies with conservative investment management, and to stress the importance of the bank’s capital and its reflection on its financial position.

According to the CBI statement, capitals of central banks and their financial positions reflect the strength of these financial institutions, their assets and its ability to support the banking sector and the economic sector in general.

The statement also mentioned that the increase was made using part of the profits the CBI achieved in 2021.